Kuehne & Nagel International Ag · SIX:KNIN

Kuehne & Nagel International — Kuehne+Nagel International — Q3 2026 Earnings Presentation

21 slides from Kuehne & Nagel International's earnings presentation, Oct 22, 2026

  1. Slide 1: Analyst conference Nine-months 2026 results

    Analyst conference Nine-months 2026 results Stefan Paul, CEO Markus Blanka-Graff, CFO Kuehne + Nagel International AG October 22, 2026

  2. Slide 2: Kuehne+Nagel significantly improves profitability in Q3 2026

    Nine-months 2026 results Kuehne+Nagel significantly improves profitability in Q3 2026 Growth Profit Cash ▪ Net turnover of CHF 19.6 billion vs. ▪ Recurring EBIT** of CHF 1,124 million ▪ Free Cash Flow of CHF 646 CHF 18.5 billion in 2025 (+9%*) vs. CHF 1,045 million in 2025 (+12%*) million vs. CHF 52

  3. Slide 3: Sea Logistics

    Sea Logistics Strong growth trajectory with supportive yields TEU ‘000 GP/TEU in CHF * EBIT/TEU in CHF ▪ Q3 volumes +5% y/y and +6% q/q ▪ Significant market share growth in Total TEUs '000 GP/TEU in CHF GP/TEU in CHF (excl. FX translation) EBIT/TEU in CHF EBIT/TEU in CHF (excl. FX translation) Asia

  4. Slide 4: Air Logistics

    Air Logistics Ongoing market share expansion in higher-yielding segments Tons ‘000 GP/100 kg in CHF EBIT/100 kg in CHF ▪ Q3 volumes +10% y/y and +7% q/q ▪ Semiconductors and cloud infrastruc- GP/100 kg in CHF EBIT/100 kg in CHF ture remain key growth drivers Total Tons '000 GP/100 kg in CHF (excl. F

  5. Slide 5: Road Logistics

    Road Logistics EBIT growth accelerates on market share gains In CHF million Q3 2026 Q3 2025 Variance YTD 2026 YTD 2025 Variance ▪ Net turnover growth +14% in Q3 Net turnover 1,006 883 14% 2,914 2,635 11% ▪ Broad-based market share gains Gross profit 358 329 9% 1,064 997 7% EBIT 28 20 40% 89 67 33% ▪

  6. Slide 6: Contract Logistics

    Contract Logistics Positive results from recent investments in growth In CHF million Q3 2026 Q3 2025 Variance YTD 2026 YTD 2025 Variance ▪ Net turnover growth of +9% in Q3 Net turnover 1,299 1,193 9% 3,688 3,560 4% ▪ Recent investments in high-tech Gross profit 973 908 7% 2,797 2,697 4% sector growt

  7. Slide 7: Financial KPIs

    Financial KPIs Analyst conference 9-months 2026 results | © Kuehne+Nagel Group | 7

  8. Slide 8: Income statement

    Income statement Year over year comparison Variance YTD Variance in % 2026 2026 2026 2026 2025 2025 2025 2025 CHF million Constant Q1 Q2 Q3 YTD Q1 Q2 Q3 YTD 2026/2025 Q1 Q2 Q3 2026/2025 Currency Forex * Net turnover 5,603 6,616 7,386 19,605 6,330 6,149 6,043 18,522 1,083 (727) 467 1,343 6% 9% (3%) G

  9. Slide 9: Working capital

    Working capital NWC intensity expands due to volume and rate increases September June December September Better/(worse) CHF million 30, 2026 30, 2026 31, 2025 30, 2025 Sep 2026 vs. Dec 2025 Trade receivables/contract assets 6,067 5,357 4,685 4,701 (1,382) Trade payables/accrued trade expenses/contra

  10. Slide 10: Cash and Free Cash Flow

    Cash and Free Cash Flow Year-over-year expansion of cash generation YTD YTD CHF million CHF million 2026 2025 Cash and cash equivalents January 1, net 536 1,142 Operational cash flow 1,833 1,725 Changes in working capital (443) (225) Income taxes paid (232) (326) Cash flow from operating activities

  11. Slide 11: Cash and Free Cash Flow

    Cash and Free Cash Flow Underlying Free Cash conversion better than recent years Key factors impacting Q3 2026 Free Cash Flow (FCF) conversion: ▪ Strong volume growth and mix drive Core NWC outflow of CHF 281m vs. CHF 80m outflow last year ▪ Some benefit from phasing of cash tax to be offset in Q4 ▪

  12. Slide 12: Outlook 2026

    Outlook 2026 Raising EBIT guidance range mid-point by CHF 100m Actual Outlook CHF million Q1 Q2 Q3 Q4 2025 Q1 Q2 Q3 2026 Recurring EBIT 402 358 285 335 1,380 308 381 435 1,500 - 1,600 Previous 2026 guidance trajectory Q2 2026 1,350 - 1,550 Core assumptions 2026 Recurring EBIT Guidance (CHF m) 1,600

  13. Slide 13: Key takeaways

    Key takeaways: 1. Strong Sea Logistics growth trajectory with supportive yields 2. Ongoing Air Logistics market share expansion in higher-yielding segments 3. Sea and Air Logistics conversion rate rising steadily (Q3 32%) 4. Cost reduction programme ahead of schedule (impact > CHF 150 m in 2026) 5.

  14. Slide 14: Inspire. Empower. Deliver.

    Inspire. Empower. Deliver. © 2026 Kuehne+Nagel. All rights reserved.

  15. Slide 15: Upcoming events

    Upcoming events 04.01. - 02.03.2027 Closed period 02.03.2027 Full-year 2026 results 05.04. - 22.04.2027 Closed period 22.04.2027 Three-months 2027 results 05.05.2027 Annual General Meeting 05.07. - 22.07.2027 Closed period 22.07.2027 Half-year 2027 results 05.10. - 21.10.2027 Closed period 21.10.202

  16. Slide 16: Balance Sheet

    Balance Sheet September 30, December 31, September 30, December 31, CHF million 2026 2025 2026 2025 Assets Equity and Liabilities Equity attributable to the equity holders 2,631 2,180 Property, plant and equipment 811 905 of the parent company Right-of-use assets 2,366 2,370 Non-controlling interest

  17. Slide 17: Quarter-over-quarter 2026/2025 Sea and Air Logistics

    Quarter-over-quarter 2026/2025 Sea and Air Logistics 2026 2025 Change in % Change in mCHF CHF million Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Sea Logistics Income Statement Turnover 2,238 2,503 3,049 7,790 2,862 2,652 2,693 8,207 (21.8) (5.6) +13.2 (5.1) (624) (149) 356 (417) Net

  18. Slide 18: Quarter-over-quarter 2026/2025 Road and Contract Logistics

    Quarter-over-quarter 2026/2025 Road and Contract Logistics 2026 2025 Change in % Change in mCHF CHF million Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Road Logistics Income Statement Turnover 1,200 1,302 1,349 3,851 1,007 1,153 1,194 3,354 +19.2 +12.9 +13.0 +14.8 193 149 155 497 Net

  19. Slide 19: Quarter-over-quarter 2026/2025 Kuehne+Nagel Group

    Quarter-over-quarter 2026/2025 Kuehne+Nagel Group 2026 2025 Change in % Change in mCHF CHF million Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Q1 Q2 Q3 TOTAL Kuehne+Nagel Group Income Statement Turnover 6,468 7,479 8,313 22,260 7,077 7,141 7,052 21,270 (8.6) +4.7 +17.9 +4.7 (609) 338 1,261 990 Cust

  20. Slide 20: Disclaimer

    Disclaimer Forward-looking statements Investing in the shares of Kuehne + Nagel International AG involves risks. Prospective investors are strongly requested to consult their investment advisors and tax advisors prior to investing in shares of Kuehne + Nagel International AG. This document contains

  21. Slide 21: Contacts

    Contacts Markus Blanka-Graff CFO markus.blanka@kuehne-nagel.com Tel: +41 (0)44 7869 644 Christopher Combé Head of Investor Relations christopher.combe@kuehne-nagel.com Tel: +41 (0)44 7869 693 Andrea Kobi Investor Relations andrea.kobi@kuehne-nagel.com Tel: +41 (0)44 7869 561 Analyst conference 9-mon

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